HomeMy WebLinkAbout948579AGREEMENT, QUITCLAIM DEED, 6-1,00443
AND RELEASE OF MORTGAGE
KNOW ALL MEN BY THESE PRESENTS, That Dan Ford and Kristine Ford, hereinafter
referred to as the Mortgagors or grantors, Joe Ford as guarantor, and 1ST Bank, a Wyoming state
banking corporation, of PO Box 1620, Afton, WY 83110, hereinafter referred to as the Mortgagee
or grantee, hereby agree as follows:
1. That the Mortgagors are the owner of the following described real property ("the
Property") located in Lincoln County, State of Wyoming:
Lot 9 Block 4 of Townsite of Fairview, Lincoln County, Wyoming, as described on
the official plat filed on March 9, 1989, as Instrument No. 699617 of the records of
the Lincoln County Clerk.
2. That the Mortgagors have mortgaged the Property to the Mortgagee by a Mortgage
("the Mortgage") securing a Promissory Note of even date in the amount of $148,039.93, dated
September 14, 2007, and recorded in the Office of the Lincoln County Clerk on September 17,
2007, in Book 672, Page 364.
3. That Mortgagors, Guarantor, and Mortgagee stipulate and agree that Mortgagors
are in default in their obligations under the Mortgage because of their failure to pay the principal
and interest as required by the Note and Mortgage. Therefore, as April 30, 2009, the amount due
on the Mortgage is principal and interest in the amount of $148,701.47 plus accruing interest on
that amount from May 1, 2009, at the rate of $32.09487 per day and expenses of collection.
4. That the parties agree that it is in their mutual best interests that the Mortgagors
convey to the Mortgagee all of their interest in the Property. In consideration thereof the
Mortgagee will release the Mortgagors from all obligations to the Mortgagee under the Mortgage on
the express condition that there are no other mortgages, liens, judgments, obligations, or
encumbrances against the property.
5. That in consideration of the release of the Mortgage and other good and valuable
consideration, the receipt whereof is hereby confessed and acknowledged, the Mortgagors, as
grantors, do hereby voluntarily, by their own free will and choice, remise, release, and forever
quitclaim, and by these presents do for their successors and assigns, remise, release, and forever
quitclaim, unto 1ST Bank, as grantee, and to its successors and assigns, forever, all such right,
RECEIVED 7/28/2009 at 10:16 AM
RECEIVING # 948579
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BOOK: 728 PAGE: 443
JEANNE WAGNER
LINCOLN COUNTY C-L RK Ki='MMF-PER WY
ri;0k"y444
title, interest, property, possession, claim, and demand as the grantors have, or ought to have, in
and to the Property.
Hereby releasing and waiving all rights under and by virtue of the homestead exemption
laws of the State of Wyoming, and further releasing all rights of redemption under the Mortgage
foreclosure laws of said State.
TO HAVE AND TO HOLD the said premises unto the said grantee, and to its successors
and assigns to its own proper use and behoof forever. So that neither the grantors nor any person
in their name or behalf or any person in their name or behalf, shall or will hereafter claim or demand
any such right or title to the premises or any part thereof, but they and every one of them shall by
these presents be excluded and forever barred.
6. That Mortgagors represent and warrant that the Property is free and clear of all liens
and mortgages other than the Mortgage described herein.
7. That in further consideration of the release of the Mortgage and in consideration of
release by Mortgagee of the Guarantor, Guarantor hereby agrees that he will purchase from
Mortgagee the following properties in Lincoln County, Wyoming, for the following prices which
represent loan payoffs as of April 30, 2009, plus accruing interest and expenses of collection in
addition thereto, which purchases Mortgagee agrees to finance for Guarantor at not more than a
75% loan to value ratio:
Property Description
Loan No.--
Payoff
Lot 5, Grunig Meadows Subdivision
64003071
$ 24,614.62
Same
6101,0828
20,618.23
Lot 9 of Block 4, Fairview Townsite
64003532
148,701.47
Lot 202 of Block 4, Fairview Townsite
64003417
70,033.77
Same
64002917
58,810.73
Same
64003175
20,038.61
8. That in consideration of the foregoing conveyance and mutual understanding and
agreement and on condition that the Property is free and clear of all other liens, mortgages, and
encumbrances, and other good and valuable consideration, the receipt whereof is hereby
confessed and acknowledged, Mortgagee does hereby certify that the Mortgage is fully satisfied,
released, and discharged; and in consideration thereof the said 1 ST Bank does hereby release and
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waive any and all rights to a deficiency judgment thereunder or any other relief pursuant to the
Mortgage and the promissory note it secures.
IN WITNESS WHEREOF, the parties have executed this Agreement, Quitclaim Deed, and
Release of Mortgage as of this 1st day of May, 2009.
Dan For
f--
ristine Ford
J Ford
1ST Bank, a Wyoming State Banking
Corporation
By
Rog J. oles, Afton Branch President
STATE OF WYOMING
ss.
COUNTY OF LINCOLN
This instrument was acknowledged before me on the day of May, 2009, by Dan
Ford.
Witness my hand and official seal.
TRIsTAN smnm NOTAPY 4UBLIG
COUNTY OF STfi E OF
LINCOLN WIr.•IV11NG j
MY COMMISSION MRS APRIL 22. 20 [ 3
NOTARY PUBLIC
My commission expires: *j_a,?, 01_7
3
STATE OF WYOMING
COUNTY OF LINCOLN
ss.
(D 0631446
30~y
This instrument was acknowledged before me on the l day of 90y, 2009, by Kristine
Ford.
Witness my hand and official seal.
Sim PUBLIC
E OF
ING &A~2~
,2012 NOTARY PUBLIC
My commission expires: OLY
STATE OF
COUNTY OF (-I,Ltolg
ss.
This instrument was acknowledged before me on the
Ford.
Witness my hand and official seal,
a770 day of I°amy~ , 2009, by Joe
==,COLN NOTARY PUBLIC Alx)k STATE OF
V WYOMING UA44Q
ES JULY 9, 20]2 NOTARY PUBLIC
Mycommission expires:
STATE OF WYOMING
COUNTY OF LINCOLN
ss.
'~.Y
This instrument was acknowledged before me on the a y~' day of PEW, 2009, by Roger J.
Coles as Afton Branch President of 1 ST Bank.
Witness my hand and official seal.
CHRIS ALLRED NOTARY PUBLIC
Ad=kk
COUNTY OF
STATE OF C7C
LINCOLN W WYOMING NOTARY PUBLIC
MY COMMISSION E7fMRE8 JULY 9 2032
My commission expires: V1
4